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Che North Carolina Baptist Foundation 
(A STATEMENT BY THE FOUNDATION COMMITTEE ) 
“To the Baptists of North Carolina: 


HE Baptist State Convention of North Carolina at 
its last session in Raleigh in November, 1919, author- 
ized its president to name a committee of five to be 
known as The North Carolina Baptist Foundation Commit- 
tee, the duties of which Committee are (1) to distribute any 
funds made available by gift to the Baptist denomination 
upon terms and conditions which call for a disbursing com- 
mittee and (2) to devise ways and means of encouraging 
Baptists to make gifts to the Baptist cause by will and other- 
wise and to report with its recommendations to the next ses- 
sion of the Baptist State Convention. Dr. B. W. Spillman, 
President of the Convention, in the exercise of the authority 
conferred upon him, named the following as members of 
the Founcation Committee: W.N. Jones, Raleigh; Charles 
H. Durham, Lumberton; John A. Oates, Fayetteville; Rob- 
ert EK. Royall, Wake Forest; and Gilbert T. Stephenson, 
Winston-Salem. 
The Committee met in the office of the Editor of The 
. Biblical Recorder, Raleigh, on Monday, December 15th, 
1919, and organized by electing W. N. Jones, Chairman, 
and Gilbert T. Stephenson, Secretary. The Committee had 
invited to sit in conference with it at its initial session a 
number of Baptists particularly identified with the life of 
the denomination in the State and, in addition to these, Col. 
FH. Fries: and Mr. A.-H. Eller, President and Trust 
Officer, respectively, of the Wachovia Bank and Trust Com- 
pany. The following were present: Dr. Livingston John- 


up The North RC aLOuN pean Foundation 

son, Mr. Archibald Johnson, Dr. W. L. Poteat, oe Charles 
Eo Brewer, Drs Walter Ny Johnson, Dri, 1. Vann, Rev. 
J. M. Arnette, Dr. J::B. Weatherspoon, Mr. Walters Dur- 
ham, Mr. John H. Boushall, Dr. Weston Bruner, Rev. 
}: D. Moore, Mr: -W-A. Cooper, Mr. Carey J. Hunter, 
Mr JM. Broughton, Mr. V,-0. Parker, Mr. HL. Mid- 
dleton, Dr. W. R. Cullom, Mr. Santford Martin, Rev. 
Wilbue<G. Plail Dr. Uo J. Tayler. Mr W.Os Riddick. 
Rev. W. A. Smith, Rev. Joel S. Snyder, Mr. John A. Oates, 
Mr. E. F.Aydlette, Rev. J. G. Blalock, Rev. William Her- 
bert Nloore, Dr. BW. Spillman, “Kev> io M. Page, =Mr: 
G; Wwsuttle, Rev. C. Hl Durham, Dr. Miz Io Késlér ‘Rev: 
J. Clyde. Turner, Rev. W. R. Bradshaw, Mr. W.-N- Jones, 
ineva Ty Fle King, Col, BoE okriess Mr, A. ie iler, and 
Mr. Gilbert T. Stephenson. . 

After a thorough discussion of the matter, participated 
in by those who had been invited as well as by the members 
of the Committee, it was the concensus of opinion that Bap- 
tists should be urged to make gifts by will as well as gifts 
during life to the Baptist cause, that they should make 
their gifts directly to the North Carolina Baptist Founda- 
tion and that the Foundation Committee should select some 
trust company to administer the fund. Upon the motion of 
Mr. E. F. Aydlette, it was unanimously recommended by 
those in the conference that the Committee should name 
the Wachovia Bank and Trust Company trustee of any 
funds or properties given to the North Carolina Baptist 
Foundation pending the action of the Baptist State Con- 
vention at its next regular session. ~The Committee, at a 
called.meeting on Tuesday, ‘December: 16th, -1919,.in Ra- 
leigh, accepted the recommendation of those participating 


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in the conference and designated the Wachovia Bank and 
Trust Company trustee of any funds and properties given 
to the North Carolina Baptist Foundation pending the 
action of the next session of the Baptist State Convention. 
The Committee, furthermore, decided to issue a statement 
to the Baptists of North Carolina explaining to them the 
terms of the Foundation and urging them to make gifts to it. 

The North Carolina Baptist Foundation is a trust fund 
created by the assembling of many gifts, large or small, 
by Baptists or those interested in the Baptist denomination 
for the promotion of the Kingdom of God on earth through 
the institutions and agencies of that denomination. One 
may make his gift to the Foundation by delivering to some 
member of the Committee an amount of money or check 
or stocks or bonds or tangible personal property or by con- 
veying real estate to the North Carolina Baptist Founda- 
tion. That is, one may make a gift to the Foundation just 
as easily as he can make a gift to any individual. In fact, 
the first gift to the Foundation was a Liberty Bond for 
$1,000.00 enclosed in a letter in which the giver stated the 
object for which he wanted the gift used. 

In making his gift to the Foundation the giver may 
stipulate that the principal shall be held in trust and the 
income used, or that the principal itself shall be used, or 
that the principal shall be held in trust a definite period 
and then used. He may designate the object or objects that 
he wishes his gift used for or he may make his gift to the 
Foundation and leave to the Committee to designate the 
object or objects. He may, for instance, designate that 
the principal or the income shal] be used for some particu- 


lar schools or for education in general; for some particular 


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+ The North Carolina Baptist Foundation 

Baptist Orphanage or for the care of orphan children in 
general; for some particular kind of Missions or for Mis- 
sions in general; for a particular Baptist hospital or sani- 
torium, or for such Baptist institutions in general; or he 
may simply leave his gift. in trust and let the Committee 
designate the object for which it will be used. 

The distribution of the funds made available through 
the Foundation will be entirely in the control of the Baptist 
State Convention through its Committee known as the 
North Carolina Baptist Foundation Committee. This Com- 
mittee will, of course, follow the directions of the maker 
of the gift insofar as it shall be practicable to do so. But 
if it shall at any time become unreasonable or impracticable 
to follow the letter of the directions of the maker of the 
gift, then the Committee will endeavor to follow the spirit 
of the maker of the gift rather than let his desires be frus- 
trated. If, for instance, one should make a gift to a Baptist 
institution and that institution should go out of existence 
or should no longer need the gift, then the Committee would 
not Jet the income accumulate but would use it for the ob- 
ject that would, in its opinion, most nearly meet the desires 
of the maker of the gift. This Committee will be answer- 
able to the Baptist State Convention and its personnel will 
be determined by the action of the Convention. 


The actual business administration of the fund will be 
in the hands of an experienced trust company. That is, 
the trust company will receive the funds and properties 
from the Committee, will invest them, will collect the in- 
come, will keep the books, will make the required reports, 
and will pay out the funds available upon the orders of the 
Committee. The trust company will have nothing what- 


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ever to do with the distribution of the fund. It will take 
care of and invest the fund with the same care and pru- 
dence and foresight that it would invest the trust funds 

uals. The Baptist State Convention will have 
ae either by its own vote or through its Committee, 
to name the trustee and to change the same, from time to 
time 
The North Carolina Baptist Foundation is intended to 
satisfy four long-felt needs of the denominations: (1) an 
agency through which Baptists may have brought to their 


attention systematically the need of making gifts by will to 
the Baptist cause; (2) a means whereby Baptists may make 
gifts to the Baptist cause in general and let a responsible 
and responsive Committee designate from time to time the 
needs of the denomination to which the available fund shall 
be applied; (3) an assurance that trust funds for the Bap- 
tist cause, little and big, will be preserved as a sacred trust 
and at the same time administered in a progressive man- 
ner; and (4) the creation of a great reserve fund upon 
which the denomination may call in any hour of emergency 


or to meet any extraordinary need. 


The Committee believes that the Baptist Foundation 
will meet each of these needs. Heretofore, it has not 
been the special business of any agency of the denomina- 
tion to appeal to Baptists to remember their denomination. 
in their wills or in special gifts during their lives; hereafter, 
it will be the business of the Foundation Committee to 
call to the attention of Baptists from time to time the duty 
of recognizing the principles of Christian stewardship 
their wills as well as in their gifts during life. Hereto- 
fore, it has been well nigh impossible for a Baptist to make 


b The North Carolina Baptist Foundation 

a gift in trust for the Baptist cause in general because there 
has been no agency to receive and administer the fund; 
hereafter, a Baptist may make his gift to the Foundation 
with the assurance that it will be handled by a Committee, 
the personnel of which is changing from time to time, but 
the duties of which are constant, and that it will be handled 
for the benefit of the denomination in spite of the changing 
conditions and demands. Heretofore, trust funds for the 
everal objects of the denomination have had to be handled 


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by the Boards of the denomination composed, for the most 
part, of men who had their own business to attend to and 
could not, in the nature of things, give the management 
of the trust funds the constant attention that their own 
business requires; hereafter, trust funds given to the Founda- 
tion will actually be administered by some trustee, either 
corporate or individual, designated by the Baptist State 
Convention, whose daily business it is to handle trust funds 
so as to make the principal absolutely safe and yet produc- 
tive of the largest income possible. Heretofore, the man 
of large means has hesitated to leave large gifts to the 
denomination because the denomination had no agency the 
primary object of which was to administer those funds, 
and the man of small means has hesitated to make his little 
gift to the denomination for fear that it was too small 
to count; hereafter, all gifts, large and small, -will go into 
the common fund and be handled in the same systematic, busi-. 
nesslike way and the man that has millions and the widow 
with her mite have equal assurance that their respective 
gifts will be made to count for the most possible in the life 
of their denomination. 

The North Carolina Baptist Foundation will become a 
vital force in the life of the denomination only insofar as 


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The North Carolina Baptist Foundation 


UOMIU BUDS UUAREDMANDOLAD | CDEDECSTYD OVA ATOR SY SEARLE P ASR DEST ERASERS ITE CLEC M PTS SOT 


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present gifts are made to it. “Che Committee will urge 
Baptists to make provisions for the Foundation in their 
wills, but it now urges Baptists to make present gifts to 
the Foundation. One loyal Baptist has already given a 
$1,000.00 Liberty Bond to the Foundation. The Committee 
earnestly hopes that other Baptists will do likewise and 
that before the next session of the Baptist State ‘Conven- 
tion a number of gifts—money, stocks, bonds, land—will 
be made to the North Carolina Baptist Foundation. 
Respectfully submitted, 

W.N. JoNEs, Chairman 

CuHarLes H. DuRHAM 

JOHN A. OaTEs 


Rogpert FE. RovaLy 
GILBERT I. STEPHENSON 


$ The North Carolina Baptist Foundation 


TUL ee ea ea ad 


Che Baptists Need of the Foundation 
Dr. B. W. Spiliman 
To the Friends of the Kingdom of Christ—GREETING: 


The North Carolina Baptist Foundation has.come at 
the right time. 


A new day is here. 


Wealth is increasing at a very rapid rate. Baptists 
and their friends share largely in this prosperity. We are 
a large part of the population. . 

The World War has given to all of us a new vision of 
the world’s needs; it has taught us a new lesson in stew- 
ardship. 

Through the years the Kingdom of God has lost many 
gifts by reason of a lack of adequate machinery for handling 
them. The Wachovia Bank and Trust Company, the trus- 
tee for this fund, inspires confidence. A gift placed with 
this company is safe. It will serve the Kingdom of God 
through the years, and will serve in the place most needed. 


Let us make our immediate objective at least one mil- 
lion dollars of undesignated gifts to this Foundation. We 
ought to do it for Christ’s sake. We can doit. I believe 
that we will. 


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The North Carslina Baptist Foundation 9 


Che North Carolina Baptist Foundation Committee 


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Me ~ 
A y 
, a Mr. W. N. Jones 
£ aN Lawyer; A.B., Wake Forest 
f 4 College; Vice-President of 
oad -, Raleigh Banking and Trust 
E & 4 Company; Director, Raleigh 
E ; ‘ Banking and Trust Com- 
E 3 pany and Mechanics Savings 
5: Bank; Chairman, North 
: Carolina Baptist Foundation 
[ 3 Committee; President, North 
¥ : i Carolina Baptist State Con- 
: } vention, 1905-06; President, 
j Board of Trustees of Mere- 
\ ; 4 dith Gollege. 
X : vd 
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Rev. CHARLES H. DURHAM f 
A. B., Wake Forest College; f _ 
Pastor, Baptist Church, Lum- fp = é 
berton, N. C.; President, p 4 
Baptist State Convention, i a4 : 
1911-14; Trustee, Southern i eee os 4 
Baptist Theological Semi- | * ; 
nary, Louisville, Ky.; State t ‘ 3 
Member, Home Mission i ; 
Board, Atlanta, Ga.; mem- \ ae * 


ber, Board of Education, 3 ae f 
Baptist State Convention. ; , 


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Mr. R. E. ROYALL 


A. B., Wake Forest College; 
Manager and Director, Roy- 
all Cotton Mills; Director, 
Bank of Wake and the At- 
lantic Fire Insurance Com- 
pany; Trustee, Wake For- 
est College since 1890, with 
the exception of the vears 
1896 and 1897, when not a 
resident of this State. 


Seiya? 


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Mr. JoHn A, Oates 


Lawyer; A. B., Wake For- 
est College; President, Board 


of Trustees of Wake Forest 
College; 


State 


President, Baptist 


Convention, 1915-17; 
Trustee, Southern Baptist 
Theological Seminary, 1916- 
19: .Chairman, Beard of 
Directors, Baptist Seaside 


Assembly since organization, 


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Mr. GILBERT T. STEPHENSON 


Lawyers: neve. and) A. -Ms 
4 Wake Forest College; Vice- 

: President, Baptist State Con- 
ae 3 vention, 1911-1912; 


mem- 
: ber, Board 


of Trustees of 
Wake Forest College since 
3 1912: elected President of 
y Board in 1919. 


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12 The North Carolina Baptist Foundation 


AVANNATESUANUIUASANEUUNLUDSDCEIU EC Duna Ugoagencoesaenunustaateaceaneantacnd Uetreeenca renin 


FORMS OF“GIFTS TO-fHa NORTH -CAROEINA 
BAPTIST FOUNDATION 


acs General Purposes ——I bequeath to W. Tones, 
harles Ho Durham, ae A. ae oa Bs Ro alt 1, and 


ist Foundation cee ittee, ba their successors in Sone 


SUP Cum Oo ee ne eae in trust for such objects and 
uses as shall be designated from time to time by the Bap- 
tist State Convention of North Carolina. 


For Specific Purposes —I1 bequeath to W. N. Jones, 
Charles el Durham, John A. Oates, Robert E. Royall, 
and Gilbert IT. Stephenson, constituting the North Carolina 
Baptist Foundation Committee, and their successors in of- 


fice, Ces OL Soe co Se Series in trust to invest and 


apply tie net meome. to the: support obec ee 


(Name of particular charitable institution or object desired.) 


Remainder to Foundation after Prior Life Estaite—The 
remainder in fee simple of the property hereinbefore devised 
or bequeathed for life, upon the termination of said life 
estate, I hereby devise and bequeath to W. N. Jones, Charles 
H. Durham, John A. Oates, Robert E. Royall, and Gilbert 
T. Stephenson, constituting the North Carolina Baptist 
Foundation Committee, and their successors in office, (etc., 
as above). 


(Amount of Money or Description of Property.) 
to W. N. Jones, Charles H. Durham, John: A. Oates, Rob- 
ere. Reel and Gilbert T. Stephenson, constituting the 
North Carolina Baptist Foundation Committee, and their 
successors in office, (etc., as above). 


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